Just go into the intricacies of this particular investigation regarding a deal made years ago.
Yeah, this was a bit of a surprise. We got this news last night from state television in China where CCTV disclosed that the agency SAMR has opened this probe into NVIDIA and what it calls

potentially anti-monopolistic behavior.
It's a little curious because, as you say, they're focused and they mentioned specifically a deal that they did four years ago to buy a company called Mellanox. It's a company in Israel that makes networking equipment.

China had to approve that deal when invited, decided to do it, and they did approve it, as you mentioned, in 2020.
But they did so with seven different conditions about anti-competitive behavior going forward that included giving customers in China access to product information for Mellanox and product

access for Nvidia's own chips.
Now, it's not exactly clear what they're going to dig into in this case, but as you noted, Nvidia has been this company at the heart of the US-China conflict over technology.

Washington has cut off its ability to sell its most advanced chips into China.
So they're really at the heart of this conflict between the two biggest economies in the world. Now, it's worth noting that the US Justice Department itself is looking for

information from NVIDIA regarding potentially violating antitrust laws. It's not the only country investigating Nvidia, but it sets the context of what other companies are being focused on in this tit-for-tat. Because Micron, for example, is having difficulty with its relationship with China.

This just seems to be around the context of China trying to one-up and respond to the U.S.'s limitations on technology in its country.

It's not just China; it's also the United States. France is also taking a look at it. That's because they have essentially a monopoly, almost a 100% share, of the most advanced chips used to train AI models.

But you're exactly right. Also, there's this broader trade conflict that we've seen, creating all sorts of problems for companies between the U.S. and China. NVIDIA still sells a lot of chips into China; it sold more in the past.

But two years ago, we got news that Washington was going to cut off their ability to sell the most high-end AI chips used to train AI models. Those restrictions have been steadily tightened since then, so Nvidia has suffered because of that.

But it's beyond that, too. It's the chip equipment makers that have been restrained. ASML in Europe has been restrained from selling its most advanced gear. So, in response, Beijing has taken a number of actions; we're seeing them retaliate in certain ways,

where they cut off a couple of minerals that are very important to the chip industry and the defense industry in particular—gallium and germanium. So they're beginning to show that they also have some cards to play.

levers to pull in this broader trade conflict.

Nvidia Hit With China Probe in Tech War Escalation

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중국의 NVIDIA에 대한 반독점 조사

중국의 SAMR은 NVIDIA의 잠재적인 반독점 행위에 대한 조사를 시작했습니다.

이번 조사는 2019년 이스라엘의 네트워킹 장비 회사인 멜라녹스를 인수한 NVIDIA에 초점을 맞추고 있습니다.

중국은 2020년 반경쟁적 행위에 관한 7가지 조건을 내걸고 인수를 승인했습니다.

미국이 중국에 대한 첨단 칩 판매를 제한하는 등 미중 기술 갈등의 중심에 NVIDIA가 있습니다.

미국 법무부에서도 잠재적인 독점 금지법 위반에 대해 NVIDIA를 조사하고 있습니다.

광범위한 지정학적 맥락과 보복 조치

중국의 조사는 미국의 기술 규제에 대한 대응으로 보입니다.

이번 조사는 중국에만 국한된 것이 아니라 미국과 프랑스에서도 조사 중입니다.

NVIDIA는 AI 모델 학습에 사용되는 고급 칩을 거의 독점적으로 보유하고 있습니다.

미중 무역 갈등이 확대되면서 NVIDIA의 중국향 칩 판매에 영향을 미치고 있습니다.

하이엔드 AI 칩에 대한 미국의 규제는 NVIDIA의 매출에 부정적인 영향을 미쳤습니다.

ASML과 같은 칩 장비 제조업체에 대한 제한은 중국의 대응 조치로 이어졌습니다.

중국은 칩 및 방위 산업에 중요한 광물인 갈륨과 게르마늄의 수출을 제한하고 있습니다.